Nowadays, there are dedicated crypto exchanges and platforms where you can quickly – and safely! – trade all the popular crypto coins, or even stake them and earn more over time. Bitbuy supports buying and selling 24 cryptocurrency assets on the exchange. However, the Pro Trade platform offers six additional trading pairs denominated in CAD and BTC, The tradable digital currencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and 20 others.
- The reason for that is really simple – it was the first crypto platform in Canada to become fully regulated as a marketplace.
- Buying and selling cryptocurrencies used to be complicated, not to mention shady.
- Below, we’ve compared the default costs for transacting on Bitbuy with a few popular altcoin trading exchanges such as Binance, Kraken, and NDAX.
- The only real complaint we found is that the mobile app will frequently log users out, requiring them to re-enter their log-in information.
- You can buy Bitcoin, Bitcoin Cash, Litecoin, Ethereum, EOS, Stellar Lumens and Ripple.
When writing this review, Bitbuy’s daily trading volume was $22.5M. Even though it’s quite low compared to some of the industry giants, it’s crucial to remember that Bitbuy is a Canadian-only crypto exchange platform. To conclude our Bitbuy review, the exchange is user-friendly and best suited for beginners in Canada that want to quickly and safely convert CAD into cryptocurrencies using an easy-to-use platform.
The Trustpilot Experience
If you are unsure you should get independent advice before you apply for any product or commit to any plan. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. It offers many of the same features as the full desktop version. Because the exchange takes compliance seriously, it’s a highly secure and reliable option for all levels of traders. If you want a quick way to purchase popular cryptocurrencies with Canadian dollars, Bitbuy is for you. Here are some frequently asked questions about the Bitbuy cryptocurrency exchange.
While a few users reported long wait times, most Bitbuy reviews agreed that the support offered by Bitbuy was effective and fast, as evidenced by our testing, in which we received a reply within 3 hours. Unfortunately, there is no live chat or phone support team, but you can speak to an automated chatbot to get sent in the right direction. The fee structure on Bitbuy is trading volume-based, meaning frequent traders can earn significant discounts when using the platform. Trade costs start at 2% for taker and maker fees, up from the 1.5% Bitbuy charged previously.
Listed Bitbuy crypto exchange assets
Bitbuy was launched in 2016 and quickly became one of the most prominent Canadian platforms for buying and selling crypto. To get verified you will need to provide your ID, financial statement, utility bill, selfie whilst holding your ID. Express Trade platform is a great option for beginners who are looking for an-easy-to use platform as well as clear navigation.
We’ll take a look at the security measurements, supported cryptocurrencies, functionality, fiat money support, digital wallet, and even more. However, if you’re on the hunt for advanced features, like drawing and analysis tools, Bitbuy’s Pro Trade platform could be ideal. Express Trade best suits beginners wishing to purchase or sell crypto for CAD. The interface is straightforward, with no charts or analysis tools. However, you can view the price of an asset in CAD and its 24-hour price movements, providing some indication of its performance.
As the exchange progressed, they decided to re-brand to Bitbuy and included a number of other cryptocurrencies on the platform. However, Bitbuy wanted to expand their offering dramatically and accepted an investment from a private equity firm in 2018. InstaBT was created as a way for Canadians to quickly and easily get their hands on Bitcoin. For those who can remember, 2013 was still a relatively new time in the crypto markets and exchanges to easily buy Bitcoin were few and far between. I recently unlocked the ability to ride some of my airborne Pals, too, which has opened up a lot of exploration options, but there’s still quite a lot left to do and see.
Bitbuy API
I use 4 other wallets to get the smaller/higher Risk tokens and coins. But recently, they’ve fallen off – especially customer support and specifically a customer service interaction with Prit who just ignored my concerns. They’re quick to take your money, let you purchase a coin but withdrawing your coins to an external wallet takes forever – hours. Bitbuy’s overall mission is to simplify the trade of digital assets for all Canadians. It is a convenient Canadian cryptocurrency exchange offering over the counter (OTC), brokerage and advanced trading options.
Supported Fiat Currency and Deposit Methods
You will select the coin in question and you will hit “Deposit”. This will populate the wallet box with the deposit address where you should send the crypto. The quickest of these is probably through the use of their instant verification option. Bitbuy has to make sure that they are in compliance with all of Canada’s Anti Money Laundering and KYC regulations. Hence, they require all of their users to complete their mandatory verifications and KYC checks before they are allowed to buy coins. The insurance policy from Knox covers both theft and loss of customers Bitcoin holdings up to the full value of the holdings in cold storage, subject to the full policy terms, conditions, and exclusions.
It looks like we were very responsive in regards to your support tickets (turnaround time of less than 6 hours). It looks like this matter has been successfully completed and we thank you for your patience. Social media account present plenty of activity, helpful information, quick replies and complete company information. Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin XLM and EOS make up the cryptocurrencies available to trade at the time of writing, with plans to add AAVE and LINK to the portfolio. Pro trade uses Tradingview software, providing in-depth charting for technical analysis.
And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with). The exchange also offers a mobile application, a built-in wallet, and plenty of security features. It’s easy to register for an account with Bitbuy, and once you’re in, the platform is intuitive and simple to use. The mobile app gives users all the features they have on the web version of the site, which includes transferring CAD or crypto or buying and selling your favourite digital assets.
For the platform’s prices to be even remotely comparable to Binance, a customer must transact over CAD 1 million within 90 days. Bitbuy offers two ways to deposit Canadian dollars; bank wire transfer and Interac e-Transfer. While withdrawals will incur a 1.5% fee, no depositing costs exist.
This is perhaps best suited to beginners traders who are looking for the most efficient way to get their hands on some crypto. Note that these platforms have been updated with a more modern, user-friendly interface as of the new updates to Bitbuy. If you are bitbuy review sending / receiving funds in CAD then you can use one of the payment methods that we listed in the fees section. It is however important to point out that those processing times are mere indications and will vary greatly depending on your banking provider.
In addition, a detailed step-by-step tutorial on how to sign up for the service is provided. Bitbuy is a regulated Canadian cryptocurrency exchange that offers a cost-effective, secure, and user-friendly platform for buying, selling, and trading digital assets. It is known to be a user-focused platform with solid customer support, that makes buying top cryptocurrencies easy, fast, and convenient.